Philippines hosts Agfund meet

MANILA, Philippines—The Arab Gulf Program for Development (Agfund), a nonprofit Arab region development organization based in Riyadh, Saudi Arabia, is holding a three-day conference in Manila, which will be highlighted by the awarding of the Agfund International Prize.

The conference, which opened on Monday, is being held at the new Fairmont Hotel in Makati City. Representatives of various government agencies and nongovernment organizations will discuss and map out Agfund’s various program and projects.

The Agfund International Prize recognizes outstanding programs that focus on poverty alleviation and sustainability of development projects. Among the awardees is the Philippine Rice Research Institute (PhilRice).

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Attending the award ceremony on Feb. 27 are Vice President Jejomar Binay and Prince Talal Bin Abdul Aziz, president of the Arab Gulf Program for Development.

Apart from the award, Agfund officials will also announce a plan to open their first “bank for the poor” in the country, a microfinance that will support the poorest segment of Philippine society.